Cornell Companies Inc - Current report filing (8-K)
2008年9月6日 - 1:31AM
Edgar (US Regulatory)
UNITED
STATES SECURITIES AND EXCHANGE
COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of Report
(Date of earliest event reported):
September 5,
2008
CORNELL
COMPANIES, INC.
(Exact name of
registrant as specified in its charter)
DELAWARE
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1-14472
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76-0433642
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(State or other
jurisdiction of
incorporation)
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(Commission File
Number)
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(I.R.S. Employer
Identification No.)
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1700
West Loop South, Suite 1500
Houston, Texas 77027
(Address of
principal executive offices) (Zip Code)
(713)
623-0790
(Registrants
telephone number, including area code)
Not
Applicable
(Former name or
former address, if changed since last report)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see
General Instruction A.2.below):
o
Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01
Regulation FD
Disclosure.
In this Current Report on
Form 8-K, the Company, Cornell, we, us, and our refer to Cornell
Companies, Inc. and its subsidiaries.
The Company intends to
disclose the following information relating to its cost structure as part of
various investor presentations to be made by our executives:
Cornell Cost Structure
Components for the Six Month Period Ended June 30, 2008:
·
Personnel (including fringe benefits
cost) 52%
·
Resident / inmate care 11%
·
Building costs / utilities 9%
·
Interest expense, net 7%
·
Depreciation & amortization
5%
·
Outside services 3%
·
Other costs 13%
Approximately 56% of the
resident / inmate care costs referenced above is food, which is generally
covered by fixed price contracts through 2014.
The Company also has approximately 16% of the building costs / utilities
referenced above represented by energy contracts with terms ranging from 1 to 5
years.
The statements made
herein that are not historical facts are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Forward-looking statements include, but
are not limited to, statements involving inflationary changes, future personnel
costs, fixed price food contracts and future energy contracts, as well as any
other statements that are not historical facts. Such statements are subject to
numerous risks, uncertainties and assumptions including but not limited to
Cornells ability to perform according to its current expectations, changes in
supply and demand, actions by governmental agencies and other third parties and
other factors detailed in the companys most recent Form 10-K and other
filings with the Securities and Exchange Commission, which are available free
of charge on the SECs website at
http://www.sec.gov
. Should
one or more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
indicated. Each forward looking-statement speaks only as of the date of the
particular statement, and we undertake no obligation to update or revise any
forward looking-statement, whether as a result of new information, future
events or otherwise. Information in the press release is subject to adjustment
resulting from further review and the obtainment of additional information that
may impact our consolidated financial statements.
The information furnished
pursuant to Item 7.01, shall not be deemed filed for purposes of Section 18
of the Securities Exchange Act of 1934, as amended, or incorporated by
reference in any filing under the Exchange Act or the Securities Act of 1933,
as amended, except as shall be expressly set forth by specific reference in
such filing. The furnishing of the
information in this report is not intended to, and does not, constitute a
determination or admission by the Company that the information in this report
is material or complete, or that investors should consider this information
before making an investment decision with respect to any security of the
Company.
2
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
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CORNELL COMPANIES, INC.
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Dated:
September 5, 2008
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By:
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/s/ William E. Turcotte
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William E. Turcotte
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Senior Vice President,
General Counsel and Corporate
Secretary
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3
Cornell (NYSE:CRN)
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